Under Section 21(1) of the Prevention of Money Laundering Act, 2002, records seized under which…
Section 21(1) applies to records "seized, under section 17 or section 18 or frozen under sub-section (1A) of section 17" that are required for an inquiry under the Act. A…
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Under Section 21(1) of the Prevention of Money Laundering Act, 2002, records seized under which sections may be retained for inquiry under PMLA?
Answer and explanation
Correct answer B
Section 21(1) applies to records "seized, under section 17 or section 18 or frozen under sub-section (1A) of section 17" that are required for an inquiry under the Act. A survey under s.16 involves no seizure, and s.50 has its own rule on impounded records.